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BANQUE NATIONALE DE PARIS v. INSURANCE CO. NORTH AMER.

No. 93 Civ. 7791 (LAK).

896 F.Supp. 163 (1995)

BANQUE NATIONALE DE PARIS S.A. — DUBLIN BRANCH — successor in interest to Banque Nationale de Paris (Ireland) Limited, Plaintiff, v. INSURANCE COMPANY OF NORTH AMERICA, Defendant. INSURANCE COMPANY OF NORTH AMERICA, Third-Party Plaintiff, v. FEI, LTD., John J. Fogarty and Jean Fogarty, Third-Party Defendants.

United States District Court, S.D. New York.

September 11, 1995.

Attorney(s) appearing for the Case

Harold H. Wolgel, Lynne K. Salinger, Gottesman, Wolgel, Secunda, Malamy & Flynn, P.C., New York City, for third-party plaintiff.

Daniel J. O'Callaghan, New York City, for third-party defendants.

MEMORANDUM OPINION

KAPLAN, District Judge.

The complaint in this case, which was commenced by plaintiff Banque Nationale de Paris ("BNP"), seeks $300,000 from Insurance Company of North America ("INA") pursuant to the terms of a Financial Guaranty Bond. The bond, executed on December 9, 1983, guaranteed payment of a $300,000 loan made by BNP to FEI, Ltd. ("FEI"). (See Bond, Killeen Aff. Ex. 2) Each third...

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